Common use of Senior Debt to Tangible Assets Clause in Contracts

Senior Debt to Tangible Assets. Not permit the ratio of (i) Senior ------------------------------ Debt minus all Securitization Obligations to (ii) Tangible Assets minus, to the extent included in Tangible Assets, all assets which are owned by or subject to a Lien in favor of a Special Purpose Vehicle to exceed 1.0 to 1.0 at any time.

Senior Debt to Tangible Assets. Not permit the ratio of (i) ------------------------------ Senior ------------------------------ Debt minus all Securitization Obligations to (ii) Tangible Assets minus, to the extent included in Tangible Assets, all assets which are owned by or subject to a Lien in favor of a Special Purpose Vehicle to exceed 1.0 to 1.0 at any time."

Senior Debt to Tangible Assets. Not permit the ratio of (i) ------------------------------ Senior ------------------------------ Debt minus all Securitization Obligations to (ii) the sum of Tangible Assets minusplus the outstanding amount of accounts receivable, to the extent included in Tangible Assets, all assets lease receivables and other payment obligations which are owned by or subject not included on Parent's consolidated balance sheet but would be so included if not sold pursuant to a Lien in favor of a Special Purpose Vehicle Securitization Transaction to exceed 1.0 to 1.0 at any time.